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Tax-Managed US Marketwide Value Portfolio

Ticker DTMMX
Inception Date 12/14/98
Fund Net Assets $5.6 B (As Of 06/30/20)

The investment objective of the Tax-Managed U.S. Marketwide Value Portfolio is to achieve long-term capital appreciation while minimizing federal income taxes on returns. The Portfolio is a Feeder Portfolio and pursues its objective by investing substantially all of its assets in its corresponding Master Fund, The Tax-Managed U.S. Marketwide Value Series, which has the same investment objective and policies as the Tax-Managed U.S. Marketwide Value Portfolio.

The Fund Net Assets shown represents the assets for the master fund that this portfolio invests in.

Returns (As of 06/30/20)(As of 06/30/20)

Annualized Returns

portfolio benchmark
YTD -18.65% -16.74%
1 Year -10.80% -9.42%
3 Year 0.97% 1.41%
5 Year 3.85% 4.41%
10 Year 11.06% 10.23%
Since Inception 6.67% 6.39%

Annualized Returns

portfolio benchmark
YTD -18.65% -16.74%
1 Year -10.80% -9.42%
3 Year 0.97% 1.41%
5 Year 3.85% 4.41%
10 Year 11.06% 10.23%
Since Inception 6.67% 6.39%

Calendar Year Returns

portfolio benchmark
2019 26.97% 26.26%
2018 -10.23% -8.58%
2017 17.01% 13.19%
2016 17.17% 18.40%
2015 -2.74% -4.13%
2014 9.93% 12.70%
2013 40.31% 32.69%
2012 22.23% 17.55%
2011 -3.07% -0.10%
2010 21.57% 16.23%

AFTER TAX RETURNS  (As of 6/30/2020)
After Taxes on Distributions: 1 Year = -11.71%   5 Year = 2.85%   10 Year = 10.36%
After Taxes on Distributions and Sale of Fund Shares: 1 Year = -5.96%   5 Year = 2.95%   10 Year = 9.15%
After-tax returns are calculated using the highest individual federal income tax rate in effect and they do not reflect state and local taxes. After-tax returns depend on an investor's particular tax situation and may differ from those shown here.

Performance is reported net of all advisory fees and includes reinvestment of dividends and other earnings. Performance data shown represents past performance and is no guarantee of future results. Current performance may be higher or lower than the performance shown. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost.  

Performance less than one year is not annualized.

Indices are not available for direct investment; therefore, their performance does not reflect the expenses associated with the management of an actual portfolio.

Frank Russell Company is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes.

Dimensional funds are distributed by DFA Securities LLC.

Fees & Expenses

Management Fee 0.53%
Management Fee After Fee Waiver 0.33%
Total Operating Expense Ratio 0.56%
Net Expense Ratio (to investor) 0.36%

Certain Portfolios have entered into fee waiver and/or expense assumption arrangements with the Advisor. In these cases, the Advisor has contractually agreed, under certain circumstances, to waive certain fees and/or assume certain expenses of the Portfolio. Unless otherwise stated in the prospectus, the Advisor may amend or discontinue these arrangements at any time, one year from the date of the prospectus. The net expense ratio reflects the total annual fund operating expenses of the Portfolio after taking into account any such fee waiver and/or expense assumption arrangements. Please read the Portfolio's prospectus for details and more information.

Characteristics (As Of 06/30/20)


Price-to-Book 1.57
% in Top 10 Holdings 31.95%
Wtd. Avg. Mkt. Cap. (Millions) $99261
Number of Holdings 1112
Annual Turnover as of 10/31/19 10%

Sector Allocation

Financials 18.59%
Health Care 18.39%
Communication Services 15.36%
Industrials 12.92%
Information Technology 10.54%
Consumer Staples 7.25%
Energy 7.10%
Consumer Discretionary 6.18%
Materials 3.33%
Real Estate 0.20%
Utilities 0.15%

Top Holdings

Comcast Corp 4.47%
Intel Corp 4.36%
JPMorgan Chase & Co 3.89%
AT&T Inc 3.85%
Charter Communications Inc 3.10%
Thermo Fisher Scientific Inc 2.83%
Bank of America Corp 2.52%
Walmart Inc 2.39%
Anthem Inc 2.38%
Pfizer Inc 2.16%

Please note that a Portfolio that invests in other Portfolios typically does not hold securities directly. As such, "Top Holdings" information for such a Portfolio represents "Top Holdings" information of underlying Portfolios.

Please click here to access Top Holdings as of the most recent month end available.

Holdings are subject to change.

Numbers may not total 100% due to rounding.

Portfolio Risks

Equity Market Risk: Even a long-term investment approach cannot guarantee a profit. Economic, market, political, and issuer-specific conditions and events will cause the value of equity securities, and the Tax-Managed U.S. Marketwide Value Series that owns them, and, in turn, the Tax-Managed U.S. Marketwide Value Portfolio itself, to rise or fall. Stock markets tend to move in cycles, with periods of rising prices and periods of falling prices.

Value Investment Risk: Value stocks may perform differently from the market as a whole and following a value-oriented investment strategy may cause the Portfolio to at times underperform equity funds that use other investment strategies.

Small Company Risk: Securities of small companies are often less liquid than those of large companies and this could make it difficult to sell a small company security at a desired time or price. As a result, small company stocks may fluctuate relatively more in price. In general, smaller capitalization companies are also more vulnerable than larger companies to adverse business or economic developments and they may have more limited resources.

Tax-Management Strategy Risk: The tax-management strategies may alter investment decisions and affect portfolio holdings, when compared to those of non-tax managed mutual funds. The Advisor anticipates that performance of the Tax-Managed U.S. Marketwide Value Portfolio may deviate from that of non-tax managed mutual funds.

Derivatives Risk: Derivatives are instruments, such as futures contracts, and options thereon, whose value is derived from that of other assets, rates or indices. The use of derivatives for non-hedging purposes may be considered to carry more risk than other types of investments. When the Tax-Managed U.S. Marketwide Value Series and Tax-Managed U.S. Marketwide Value Portfolio use derivatives, each will be directly exposed to the risks of those derivatives. Derivative instruments are subject to a number of risks including counterparty, liquidity, interest rate, market, credit and management risks, as well as the risk of improper valuation. Changes in the value of a derivative may not correlate perfectly with the underlying asset, rate or index, and the Portfolio could lose more than the principal amount invested.

Securities Lending Risk: Securities lending involves the risk that the borrower may fail to return the securities in a timely manner or at all. As a result, the Tax-Managed U.S. Marketwide Value Series may lose money and there may be a delay in recovering the loaned securities. The Tax-Managed U.S. Marketwide Value Series could also lose money if it does not recover the securities and/or the value of the collateral falls, including the value of investments made with cash collateral. Securities lending also may have certain adverse tax consequences.

Operational Risk: Operational risks include human error, changes in personnel, system changes, faults in communication, and failures in systems, technology, or processes. Various operational events or circumstances are outside the Advisor’s control, including instances at third parties. The Portfolio and the Advisor seek to reduce these operational risks through controls and procedures. However, these measures do not address every possible risk and may be inadequate to address these risks.

Cyber Security Risk: The Tax-Managed U.S. Marketwide Value Portfolio’s and its service providers’ use of internet, technology and information systems may expose the Portfolio to potential risks linked to cyber security breaches of those technological or information systems. Cyber security breaches, amongst other things, could allow an unauthorized party to gain access to proprietary information, customer data, or fund assets, or cause the Portfolio and/or its service providers to suffer data corruption or lose operational functionality.


Calendar Year

Record Date Ex-Date Payable Date Type Rate per Share
03/29/17 03/30/17 03/31/17 Dividend $0.11838
06/28/17 06/29/17 06/30/17 Dividend $0.12587
09/27/17 09/28/17 09/29/17 Dividend $0.14454
12/14/17 12/15/17 12/18/17 Dividend $0.13097
12/14/17 12/15/17 12/18/17 Long-Term Capital Gain $0.94458
Record Date Ex-Date Payable Date Type Rate per Share
03/27/18 03/28/18 03/29/18 Dividend $0.12257
06/27/18 06/28/18 06/29/18 Dividend $0.13841
09/26/18 09/27/18 09/28/18 Dividend $0.14465
12/17/18 12/18/18 12/19/18 Dividend $0.12856
12/17/18 12/18/18 12/19/18 Long-Term Capital Gain $0.97256
Record Date Ex-Date Payable Date Type Rate per Share
03/27/19 03/28/19 03/29/19 Dividend $0.11428
06/26/19 06/27/19 06/28/19 Dividend $0.14429
09/26/19 09/27/19 09/30/19 Dividend $0.15605
12/16/19 12/17/19 12/18/19 Long-Term Capital Gain $0.40519
12/16/19 12/17/19 12/18/19 Dividend $0.14259
Record Date Ex-Date Payable Date Type Rate per Share
03/27/20 03/30/20 03/31/20 Dividend $0.15320
06/26/20 06/29/20 06/30/20 Dividend $0.14031
09/28/20 09/29/20 09/30/20
12/15/20 12/16/20 12/17/20

This information is not meant to constitute investment advice, a recommendation of any securities product or investment strategy (including account type), or an offer of any services or products for sale, nor is it intended to provide a sufficient basis on which to make an investment decision. Investors should consult with a financial professional regarding their individual circumstances before making investment decisions.

Dimensional Fund Advisors LP is an investment advisor registered with the Securities and Exchange Commission. Consider the investment objectives, risks, and charges and expenses of the Dimensional funds carefully before investing. For this and other information about the Dimensional funds, please read the prospectus carefully before investing. Prospectuses are available by calling Dimensional Fund Advisors collect at (512) 306-7400 or at

Dimensional funds are distributed by DFA Securities LLC.